btcrut2017
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Activity: 406
Merit: 11
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January 19, 2018, 07:40:24 AM |
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I am sure that the future of paper money will survive, as is the book that until now can survive despite many e-books, this is because paper money transactions do not require high costs such as bitcoin or digital money.
Lol, sure it will survive mate compare to the books that you give as a sample. But definitely, transaction involving money will be lessen in the future because of cryptocurrency. I don't say a total elimination but at least there is a variety on what kind of payment mode to be made. |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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w33man
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January 19, 2018, 08:57:34 AM |
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Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:
Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?
The future of paper money is quite clear, it is bound to be abolished in the future. With the growth of technology every year and the effects brought by the cryptocurrencies, something like total extinction of paper money is feasible and reasonable. We should always move on to innovation, so there'll be growth. |
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yvesp110
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January 19, 2018, 08:24:22 PM |
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I think in the future, paper money will probably disappear, and electronic informationized currency will become more and more popular, and paper money may be gradually replaced! I think it's going to be a lot less money for the technology that's going to be more and more advanced.
The paper money will not be vanished entirely from this society in the days to come as there are number of people who still believe in paper money and they have no mood of going for investing or using crypto currency due to their own reasons. Paper currency will remain there in this world but there will be only few people across the world who will be using it at that very time. |
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vliegenderhollander
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Activity: 43
Merit: 0
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January 19, 2018, 08:40:53 PM |
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Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:
Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?
I also think that the paper money cannot be banned. Usage of it will decrease of course. And countries like The Netherlands already started to change paper money to pin card or credit card. Most of the coffees, bars, and restaurants direct their customer to pay with pin card, credit card for mutual safe. |
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Sled
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January 19, 2018, 08:44:52 PM |
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I think in the future, paper money will probably disappear, and electronic informationized currency will become more and more popular, and paper money may be gradually replaced! I think it's going to be a lot less money for the technology that's going to be more and more advanced.
The paper money will not be vanished entirely from this society in the days to come as there are number of people who still believe in paper money and they have no mood of going for investing or using crypto currency due to their own reasons. Paper currency will remain there in this world but there will be only few people across the world who will be using it at that very time. Paper money will stay to this world and i think that the only thing that will happen is the people will change of their perspective in using a money because they will surely use digital money as the technology is continuously revolutionizing during this era and they can use like bitcoin and other form of digital money to use it to shop or to do something related to financial things. |
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Bakugo
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January 19, 2018, 09:26:26 PM |
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fiat will live forever, and it cant be banned cause of crypto is better than fiat.
crypto until now use to make our economy better, and fiat use to real transaction.
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shata
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January 19, 2018, 09:35:41 PM |
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I am sure that the future of paper money will survive, as is the book that until now can survive despite many e-books, this is because paper money transactions do not require high costs such as bitcoin or digital money.
Lol, sure it will survive mate compare to the books that you give as a sample. But definitely, transaction involving money will be lessen in the future because of cryptocurrency. I don't say a total elimination but at least there is a variety on what kind of payment mode to be made. Yes, Physical money or fiats will totally survive because many people are not familiar with cryptocurrency. Maybe many of us are trying to deal with cryptocurrency but they still can't understand it. And the only thing that they can use is money, or fiats. Actually, You're right. Physical money will always be used but it will be lessen. Because some of the users will use the Bitcoin as mode of payment in some shops or store. And even making any transactions. |
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BeEvil
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January 19, 2018, 09:43:12 PM |
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Now a day’s everything is going digital and bitcoin is also one of the example of it bitcoin is easy to carry with yourself and its price is also very high with fast transition and there are also a lot of good things in bitcoin which can proof that bitcoin is better then paper money.
So fate of paper money - be in some collection in 21xx
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Batmain
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January 19, 2018, 10:50:57 PM |
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The future of paper money is safe as I don't see any threat to it from bitcoins as paper money is widely used and accepted and that is not the case with bitcoins at a moment and even in future if bitcoin becomes more popular still there will be many bunch of people who will prefer to use paper money and not bitcoins.
The rapid growth of the technology is so fast that we didn't even see it coming, it's been a while when me and my friends are just communicating through text, but now I rarely see someone using text message these days. All are almost chats and Messengers. Maybe you are not seeing it now but the time will come where digital money will reign the financial world. Cards, smartphones, chips or even scanned images to buy or sell goods or to pay for bills will make it's mark before 2030. Papers are made from woods so we must preserve that, it will just fade due to degradation so must change to something long term. We must make use of our spectrum space. Digital world must provide an digital money and thinkers and users. Traditional way of payment will fade. |
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goldcoinminer
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January 20, 2018, 02:22:22 AM |
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Now a day’s everything is going digital and bitcoin is also one of the example of it bitcoin is easy to carry with yourself and its price is also very high with fast transition and there are also a lot of good things in bitcoin which can proof that bitcoin is better then paper money.
So fate of paper money - be in some collection in 21xx
That's true, bitcoin will be the most dominant digital currency in the future as I believe people will trust the decentralized system than the centralized one. So now, I realize that I should be saving my bitcoin as when the demand will significantly increase, this will give me a profit. |
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Questat
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January 20, 2018, 02:34:50 AM |
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Now a day’s everything is going digital and bitcoin is also one of the example of it bitcoin is easy to carry with yourself and its price is also very high with fast transition and there are also a lot of good things in bitcoin which can proof that bitcoin is better then paper money.
So fate of paper money - be in some collection in 21xx
The transition period is going to be long, paper money will not easily disappear in the circulation as it's very helpful to all of us. Changes is inevitable but it should only give us another option to transact and must not sacrifice the convenience of the majority as paper money really give convenience. |
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Bitcoin2009
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Activity: 1050
Merit: 10
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January 20, 2018, 03:31:57 AM |
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I am sure that the future of paper money will survive because paper money is a symbol of a country, paper money will get full protection from the state through the law.
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lionheart89
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January 20, 2018, 04:18:05 AM |
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In an age of increasingly sophisticated technology, paper money will begin to be abandoned because in the future people will be easily with non-cash transactions or by using virtual money.
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edward1105
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January 20, 2018, 04:37:22 AM |
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Paper money would never die not untill everyone is educated enough to understand the benefits.
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noorman0
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January 20, 2018, 07:44:08 AM |
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One thing to remember, the staple food we eat every day comes from farmers, and not all farmers (actually farmers) pay attention to technological developments, especially for countries where there is an agrarian population that is difficult to access information from outside, whether internet, television , telephone, public schools. It is not impossible they will be shocked when someone comes to buy their products with bitcoin.
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This space for rent. Available in mid January 2024 - PM me |
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rehanaurora
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January 20, 2018, 01:40:12 PM |
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I think paper money will be extinction in the future , it should be replaced with digital money cause everything is going to online banking system. It make people easy for to do something like payment.
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chaa123
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January 20, 2018, 05:03:18 PM |
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One advantage of paper money over cryptocurrency is that it makes the earner feel secured whenever they have physical money on their hands. However, physical money are often times easier to steal than cryptocurrencies like Bitcoin. In Bitcoining, there maybe uncertainties with regards to its fluctuating value but given that you are smart enough and patient enough with Btc, people would eventually feel more secured with cryptocurrency than paper money. Futurewise, paper money might stay a bit longer in most countries since not all of the countries in the world are fascinated on how cryptocurrencies work.
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Fbo62
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January 20, 2018, 05:04:10 PM |
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Crypto will be most likely competing with crypto but the dollar will always live.
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sangalangdavid
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Merit: 100
https://streamies.io/
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January 23, 2018, 04:23:49 AM |
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Crypto will be most likely competing with crypto but the dollar will always live.
The future of paper money is not good because the rise of cryptocurrencies. The cryptos will saturate the whole market and not so long from now, the paper money will lose its value. |
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Maslate
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January 23, 2018, 04:48:09 AM |
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Crypto will be most likely competing with crypto but the dollar will always live.
The future of paper money is not good because the rise of cryptocurrencies. The cryptos will saturate the whole market and not so long from now, the paper money will lose its value. There is no relation to that, do you know what is the total population who are using crypto currency? IMO, it's still very few and majority if not all of the people are still enjoying using paper money, maybe we will see a decrease of circulation in the future as we are going to the digital kind of money trend but it will not be eliminated. |
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